Sunpower secures RMB77 M M&S contract from Jiangsu

Mainboard-listed Sunpower Group Ltd., an environmental protection solutions specialist with a leading edge in anti-pollution investment projects (“Green Investments” or “GI”) that generates long-term intrinsic value in the form of recurring income and cash flows, is pleased to announce that it has secured a Manufacturing and Services (“M&S”) contract with a total worth of approximately RMB77 M from its repeat customer, Jiangsu Hailun Petrochemical Co., Ltd.

Under the contract, Sunpower will provide heat exchanger equipment such as condensers, buffer tanks and heaters for a technology upgrading project at Jiangsu Hailun’s PTA1 production facility. The Group expects to complete the delivery of the products by the H1 of 2020, which will have a positive impact on the Group’s financial performance for the financial years ending 31 December 2019 (“FY2019”) and 31 December 2020 (“FY2020”).

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